Miller Magazine Issue: 130 October 2020

58 MILLER / OCtOber 2020 WHEAT Prices Over the last month, prices of Black Sea growers have surpassed those on the French exchange. Romanian wheat price sank last week due to keen competition within the EU. As the 2020 crop in France fell by almost one- fourth (the European Commission’s estimate), other grain growing countries – Poland, Roma- nia, Bulgaria, Lithuania and Latvia – have come to the foreground. While Bulgaria and Roma- nia were also hit by drought this summer, the crop in Poland, Lithuania and Latvia rose from last year by 8%, 3% and 18%, respectively. In the GASC tender of September 16, wheat of Polish origin was bought for the first time since 2015, because of its most competitive price (at least USD 7 below other bids). RUSSIA: PRODUCTION AND EXPORTS Russia remains the key wheat producer in the region, with a bumper crop expected this season. UkrAgroConsult’s forecast is at 81 MMT, but there are estimates above 83 MMT in the market. The large crop resulted from unusually high yields in the Central and Volga “Russia remains the key wheat producer in the region, with a bumper crop expected this season. UkrAgroConsult’s forecast is at 81 MMT, but there are estimates above 83 MMT in the market. Ukraine harvested a good wheat crop in MY 2019/20, and its 2019/20 exports hit an all-time high. The season’s leader is Egypt, but the most active importer was Turkey, which boosted imports by +296% from MY 2018/19. UkrAgroConsult forecasts 2020/21 exports at 17.5 MMT.” Expectations from the new season in the Black Sea region Maryna Marynych Grain Market Analyst UkrAgroConsult